Revenues generated by underground marketplaces experienced a double-digit decline in 2022, thanks to the closure of the popular Hydra Market in April, according to Chainalysis. The blockchain analysis company said that dark web revenues fell from $3.1bn in 2021 to just $1.5bn last year, while average daily revenue for all markets dropped from $4.2m just prior to Hydra’s closure to only $447,000 immediately after.

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